Reaves Utility Income Fund (NYSEAMERICAN:UTG) Plans Monthly Dividend of $0.19

Reaves Utility Income Fund (NYSEAMERICAN:UTG) announced a monthly dividend on Wednesday, December 18th,Wall Street Journal reports. Investors of record on Tuesday, March 18th will be given a dividend of 0.19 per share by the closed-end fund on Monday, March 31st. This represents a $2.28 annualized dividend and a yield of 7.40%. The ex-dividend date is Tuesday, March 18th.

Reaves Utility Income Fund has increased its dividend payment by an average of 1.8% annually over the last three years.

Reaves Utility Income Fund Trading Down 3.2 %

Shares of Reaves Utility Income Fund stock opened at $30.81 on Thursday. Reaves Utility Income Fund has a 1 year low of $25.26 and a 1 year high of $35.29. The stock’s fifty day simple moving average is $30.18.

Reaves Utility Income Fund Company Profile

Reaves Utility Income Fund is a closed ended balanced mutual fund launched and managed by W. H. Reaves & Company, Inc The fund invests in public equity and fixed income markets of the United States. It seeks to invest in securities of companies operating in the Utilities sector. The fund primarily invests in dividend paying stocks and debt instruments of companies operating across all market capitalizations.